Credit Union Profile

The Stanwood Area Federal Credit Union traces its roots back to 1940. The credit union has continued to thrive over the years through the efforts of many non-paid volunteers who have been dedicated to the credit union philosophy of “People Helping People”.

Today we service the personal financial needs of over 2,400 members with assets totaling over $12 million. Because we are a not-for-profit financial cooperative, our success is measured by the level of member satisfaction, not just the bottom line.

While attempting to satisfy the needs of an individual member, we never lose sight of the commitment we have to all our members – to protect the financial integrity of their financial institution.

Mission Statement

To provide the best quality services available to meet the financial needs of our members. Provide these services at fair and competitive prices while safeguarding the assets of the credit union.

Membership

Persons who live, work, worship or go the school in Westmoreland County are eligible to join our Credit Union. Membership applications are available at the New Stanton office. A valid drivers license or military ID is required.

Frequently Asked Questions

What is a Credit Union?

A credit union is a cooperative, not-for-profit financial institution organized to promote thrift and provide credit to members. It is member-owned and controlled through a board of directors elected by the membership. The board serves on a volunteer basis and may hire a management team to run the credit union. The board also establishes and revises policy, sets dividend and loan rates, and directs certain operations. The result: members are provided with a safe, convenient place to save and borrow at reasonable rates at an institution which exists to benefit them, not to make a profit.

Who owns a Credit Union?

Most financial institutions are owned by stockholders, who own a part of the institution and intend on making money from their investment. A credit union doesn’t operate in that manner. Rather, each credit union member owns one “share” of the organization. The user of credit union services is also an owner, and is even entitled to vote on important issues, such as the election of member representatives to serve on the board of directors.

How did Credit Union start?

The first credit union cooperatives started in Germany over a century ago. Today, credit unions are found everywhere in the world. The credit union movement started in this country in Manchester, New Hampshire. There, the St. Mary’s Cooperative Credit Association, a church-affiliated credit union, opened its doors in 1909. Today, one in every three Americans is a credit union member.

What is the purpose of a Credit Union?

The primary purpose in furthering their goal of service is to encourage members to save money. Another purpose is to offer loans to members. In fact, credit unions have traditionally made loans to people of ordinary means. Credit unions can charge lower rates for loans (as well as pay higher dividends on savings) because they are nonprofit cooperatives. Rather than paying profits to stockholders, credit unions return earnings to members in the form of dividends or improved services.

Are savings deposits insured?

Yes. All savings accounts are insured to at least $250,000 by NCUA, and backed by the full faith and credit of the United States Government.

Who can join a Credit Union?

A credit union exists to serve a specific group of people, such as a group of employees or the members of a professional or religious group. This is called a “field of membership.” The field of membership may include where they live, where they work, or their membership in a social or economic group.

Employment

We are an equal opportunity employer, dedicated to a policy of non-discrimination in employment on any basis including race, color, age, sex, religion, disability or national origin. Consistent with the Americans Disabilities Act, applicants may request accommodations needed to participate in the application process.

Stanwood Area Federal Credit Union is committed to providing a website that is accessible to the widest possible audience in accordance with ADA standards and guidelines. We are actively working to increase accessibility and usability of our website to everyone. If you are using a screen reader or other auxiliary aid and are having problems using this website, please contact us at (724) 925-9505. All products and services available on this website are available at our credit union office.

Third Party Links Disclosure

Our site contains hyperlinks to other web sites operated by third parties. These links will take you away from our site. Please note that "+ CreditUnion +" does not guarantee the accuracy or completeness of any information presented on these sites nor does "Stanwood Area Credit Union" represent either the third party or our member if the two enter into a transaction. The third party's privacy and security policies may differ from those practiced by the credit union. We encourage our members to know when they leave our site and to read the privacy statements of each and every web site that collects personally identifiable information. Our Privacy Statement applies solely to information collected by Stanwood Area Credit Union's Web site.